Question: Red's Electronics has a balance sheet with equity account values of: common stock ($1 par) of $70,500; capital surplus of $141,600; and retained earnings of

Red's Electronics has a balance sheet with equity account values of: common stock ($1 par) of $70,500; capital surplus of $141,600; and retained earnings of $208,300. How many shares will be outstanding if the firm declares a 2-for-9 reverse stock split? 18,000 shares 5,833 shares 317,250 shares 15,667 shares 305,750 shares

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